Westhaven Gold Corp. (TSX-V:WHN)
Announced assay results from its ongoing drill program at its 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
This newly discovered FMN zone is the third gold zone discovered since the initial high-grade gold discovery at South Zone in late 2018.
|Westhaven Gold||TSX.v : WHN|
|Market cap||C$84 m @ 82 cents|
|Location||British Columbia, Canada|
Westhaven continue to produce good drill results from the large area around Shovelnose, yet the share price seems stuck around the current level.
Management were convinced that some good drill results this summer would lead to a re-rate of the stock, but so far this optimism looks to be misplaced.
With 24 drill holes still in the assay labs, it’s to be hoped that they produce results that stimulate investor interest once again, otherwise it’s hard to see what will drive the price upwards from the current level.
Westhaven Drills 5.50 Metres of 4.58 g/t Gold and 267.40 g/t Silver at the Newly Discovered FMN Zone at Shovelnose
Vancouver, B.C. – December 14th, 2020 – Westhaven Gold Corp. (TSX.V: WHN) is pleased to announce assay results from its ongoing drill program at its 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
This newly discovered FMN zone is the third gold zone discovered since the initial high-grade gold discovery at South Zone in late 2018 (SN18-14: 17.70m of 24.50 g/t Au) and the recent discovery at Franz Zone which reported 7.78m of 14.84 g/t Au in September of this year.
“With the discovery of high-grade gold and silver at the FMN zone there are now four separate zones of high-grade mineralisation at Shovelnose. Vein zone 1 now spans approximately 4 kilometres, is open along strike, and appears to be strengthening as drilling continues northwest from the FMN zone towards the Franz zone. With the discovery of three new gold zones in 2020, and several new zones to test in early 2021, we continue to increase the size and scale of mineralisation on this largely underexplored property.”
- Gareth Thomas, President & CEO of Westhaven Gold
- SN20—139 (FMN)
- (271.15 – 291.0m): 19.85 metres (m) of 2.62 g/t gold (Au) and 139.75 g/t silver (Ag)
- Including: 10.44m of 3.67 g/t Au and 209.04 g/t Ag.
- Including: 5.50m of 4.58 g/t Au and 267.35 g/t Ag.
- 3rd highest silver intercept drilled to date on this property (0.58m of 581 g/t Silver)
- SN20—112 (Franz)
- (68.40 – 77.37m): 8.97m, of 2.38 g/t Au and 63.59 g/t Ag.
- Including: 5.72m of 3.46 g/t Au and 87.38 g/t Ag.
- SN20—134 (Franz)
- (80.26 – 98.00m): 17.74m of 2.85 g/t Au and 56.24 g/t Ag.
- Including: 9.00m of 4.15 g/t Au and 89.26 g/t Ag.
- Also including: 2.50m of 9.29 g/t Au and 172.38 g/t Ag.
- Westhaven completed 43,166 metres of diamond drilling in 2020. Assays are pending for 24 drill holes completed in the FMN and Franz zones.
Please click the following link to the 2020 drill database table of assay results: HERE
.“Recent drilling on the FMN and Franz targets continues to return significant gold and silver assays. Continuing along strike to the northwest, the Franz Zone has been extended farther northwest with the drilling of hole SN20-124. This hole, collared 500 m northwest of the Franz discovery hole, SN20-101 (14.84 g/t Au over 7.78 m), encountered a 4.7 m calcite vein assaying 0.71 g/t Au and 0.60 g/t Ag over 3.53 m, including 1.51 g/t Au over 0.62 m. This vein also contains elevated mercury, up to 0.27 ppm. This vein intersection is now interpreted to represent the upper most part of the vein zone that has been preserved in a down-dropped fault block, potentially preserving a zone of boiling and gold deposition. Follow-up drilling will test the zone down-dip and along strike to the northwest.”
Peter Fischl, Exploration Manager, Westhaven Gold
FMN (Forget Me Not)
The FMN target represents the northwestward extension of Vein Zone 1 from the Tower/Mik and South zones. Quartz veining comprising Zone 1 has now been traced continuously from South Zone through FMN for 2.8 kilometres of strike. Vein Zone 1 remains open to the northwest where stronger mineralisation is now being intersected. Hole SN20-139 for example, encountered 3.67 g/t Au and 209.04 g/t Ag over 10.44 m. This intersection is centred at 1200 m elevation, the same level at which stronger mineralisation at South Zone occurs. Follow-up step-outs to the northwest have intersected Vein Zone 1 at shallower depths, such as in hole SN20-147, collared 90 m northwest of hole 139, which intersected 35 m of colloform/crustiform banded cm to metre-scale quartz/chalcedony veins centred at 1330 m elevation. Follow-up drilling will continue northwest into the untested 700 m long gap between FMN and Franz targets.
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analysed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100-micron. A duplicate 50 g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
Gareth Thomas, President, CEO & Director
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt.
The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN.
For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavengold.com
PLAN MAP OF RECENT DRILLING
3 NEW ZONES DISCOVERED IN 2020
CROSS-SECTION OF HOLE SN20-139
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email firstname.lastname@example.org for information.
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for information purposes only, and are not recommendations in any form. Always consult an investment professional.
The writer is a shareholder of Westhaven Gold, bought in the market at the prevailing price on the day of purchase.